Republic Services, Inc. $RSG Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board has reduced its stake in Republic Services, Inc. by 73.3%, selling 70,142 shares and holding 25,506 shares valued at $6,177,000.
• Republic Services recently declared a quarterly dividend of $0.625 per share, which is an increase from the previous $0.58, yielding an annualized rate of 1.1%.
• Analysts have shown a positive outlook on Republic Services, with upgrades to ratings and price targets from several firms, resulting in an average target price of $262.17.

Public Sector Pension Investment Board lowered its position in shares of Republic Services, Inc. (NYSE:RSG - Free Report) by 73.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,506 shares of the business services provider's stock after selling 70,142 shares during the quarter. Public Sector Pension Investment Board's holdings in Republic Services were worth $6,177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in shares of Republic Services by 3,533.3% in the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. Key Financial Inc boosted its position in shares of Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after buying an additional 99 shares during the period. TCTC Holdings LLC boosted its holdings in Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after purchasing an additional 66 shares during the period. Park Square Financial Group LLC purchased a new position in Republic Services in the fourth quarter valued at $44,000. Finally, Cheviot Value Management LLC purchased a new position in Republic Services in the first quarter valued at $49,000. Institutional investors and hedge funds own 57.73% of the company's stock.

Republic Services Trading Down 0.3%

Shares of RSG stock traded down $0.7080 on Thursday, reaching $235.4020. 706,771 shares of the stock were exchanged, compared to its average volume of 1,381,469. The stock has a market cap of $73.50 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 3.68 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $240.45 and a two-hundred day moving average of $240.29. Republic Services, Inc. has a 1-year low of $197.60 and a 1-year high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%.The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the prior year, the firm posted $1.61 EPS. The business's revenue for the quarter was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. On average, research analysts anticipate that Republic Services, Inc. will post 6.86 EPS for the current year.

Republic Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be issued a $0.625 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $2.50 annualized dividend and a yield of 1.1%. This is an increase from Republic Services's previous quarterly dividend of $0.58. Republic Services's payout ratio is currently 34.32%.

Analyst Ratings Changes

A number of analysts have weighed in on RSG shares. Citigroup raised their price target on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. William Blair reissued an "outperform" rating on shares of Republic Services in a report on Friday, April 25th. Melius Research upgraded Republic Services to a "hold" rating and set a $281.00 target price on the stock in a research report on Monday, June 9th. Melius initiated coverage on Republic Services in a research report on Monday, June 9th. They set a "hold" rating on the stock. Finally, Morgan Stanley boosted their price target on Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $262.17.

Insider Transactions at Republic Services

In related news, major shareholder Cascade Investment, L.L.C. purchased 4,258 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $234.91 per share, for a total transaction of $1,000,246.78. Following the acquisition, the insider owned 109,816,832 shares in the company, valued at approximately $25,797,072,005.12. This trade represents a 0.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company's stock.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.